Vasiliko Cements is currently examining the possibility of expanding its production capacity from 1.3 million tons to 1.7 million tones per annum, in an effort to serve not only the Cyprus market but also the increasing demands of cement worldwide. According to VCW General Manager, Giorgos Sideris and the Sales Manager, Giorgos Savvas, this investment will cost £50 million.

With regard to the recent protests of several VCW customers for a shortage of cement in the market, the two officials said that these criticisms are unjustified, since there was a drop in production for few days only due to technical problems. “The demand of cement in Cyprus recorded an increase of 40% for the past few years. The cement consumption per capita might be the highest worldwide”, the officials noted.

Messrs. Sideris and Savvas also expressed their surprise on the incentives and reasons that push several importers to import low-quality cement from a specific country of the region.

It is still unknown, however, whether demand in Cyprus will continue at the same pace or will further increase. This will largely depend on the infrastructure projects with the BOT method. Vasiliko Cements also wishes to serve the T/C market and several T/C businessmen have expressed their interest to buy cement from the Cyprus industry, however bureaucratic procedures at the checkpoints have become an obstacle.